24 Mar BNY MELLON EXPERT WITNESS TESTIMONY & CONSULTING SERVICES FOR LAW FIRMS
BNY Mellon expert witness testimony pros who cover Bank of New York Mellon as part of testifying consulting engagements note that it is one of the largest global investments and wealth management institutions, providing investment management, asset servicing, and treasury services. As a prominent financial entity, BNY Mellon expert witness law firm consultants note that it finds itself at the center of legal disputes that require consultants. Pros bring valuable insights into various aspects of its operations.
- Fraud and Security Breaches
With the vast amount of sensitive data and financial transactions it processes, the company is a prime target for fraud and security-related cases. A BNY Mellon expert witness assesses the company’s security protocols and fraud detection systems. These cases include:
- Allegations of unauthorized transactions involving BNY Mellon accounts or services
- Security breaches that compromise client information, including sensitive financial data
- Analysis of BNY Mellon’s fraud prevention systems to determine if they were sufficient
- Cases involving the company’s response to cybersecurity threats and breaches
- Regulatory Compliance and Violations
As a leading financial institution, it must adhere to a range of financial regulations, including those set by the Federal Reserve, the Securities and Exchange Commission (SEC), and global regulatory bodies. Top BNY Mellon expert witnesses assist in cases where the company’s compliance with these regulations is questioned. Common cases include:
- Violations of consumer protection laws, such as the Investment Advisers Act or the Bank Secrecy Act (BSA)
- Allegations of non-compliance with anti-money laundering (AML) or Know Your Customer (KYC) regulations
- Disputes over BNY Mellon’s adherence to data privacy laws, including GDPR and CCPA
- Issues surrounding the company’s compliance with SEC regulations in its asset management services
- Intellectual Property and Patent Disputes
And the company’s use of proprietary financial technology, payment processing systems, and trading platforms often leads to intellectual property disputes. So you’d see BNY Mellon expert witness advisors evaluate whether the company’s operations infringe upon patents or intellectual property rights. These cases include:
- Patent infringement claims related to BNY Mellon’s financial technologies or software
- Disputes over the use of proprietary systems in asset servicing or wealth management
- Conflicts over the licensing of technologies used by the company
- Evaluation of the validity of patents held by BNY Mellon and their potential infringement
- Breach of Contract and Fiduciary Duty
The firm enters into numerous contracts with clients, investors, and business partners. Law firms hire a BNY Mellon expert witness to review whether the company upheld its contractual obligations or if breaches occurred. Relevant cases include:
- Disagreements over terms in investment management or custody agreements
- Breaches of fiduciary duty, particularly in asset management or wealth management services
- Contractual disputes between BNY Mellon and third-party service providers or clients
- Cases involving the enforcement of terms in BNY Mellon’s investment or advisory agreements
- Consumer Protection and Liability
The firm is involved in cases related to consumer protection laws, particularly in areas such as wealth management and investment services. BNY Mellon expert witnesses help determine whether the company adhered to its obligations to clients and followed the law. Typical cases include:
- Claims related to improper fees or commissions on investment services
- Allegations of misleading investment advice or inadequate risk disclosures
- Disputes regarding BNY Mellon’s handling of client funds or securities
- Legal actions concerning the company’s practices in asset management, including violations of fiduciary responsibility
